Amendment status not verified — confirm the current text below against the official source.
Annunl Accounts, Auttit anrl financial estimates :- (i) The Annual Accounts of the lJniversity shall be prepared under the directions ofthe Executive Council. (ii) 'The auditors appointed by the Executive Council shai[ at least once in a year. auclit the accounts of the University. Provided that the State Government shall have the power to direct, whenever considered necessary an audit ofthe accounts ofthe University, including the insti- tutions managed by it by such auditors, as it may specify. (iiD T*re accounts when audited shall be published by the Executive Council and a copy ofthe accounts together with audit report shall be placed before the Executive Council and also shall be submitted to the Chancellor and the State Government. (iv) The Annual Accounts shall be considered by the General Council at its annual meet- ing and the General Council may pass resolutions with reference thereto, and com- municate the same to the Executive Council. The Executive Council shall consider the suggestions made by the General Council and take such Action there on, as it thinks fit. The Executive Council shall inform the General Council at its next meel- ing with respect to all Actions taken by it as also the reasons for not taking Action. The Executive Council shall prepare, before such date as may be prescribed by the regulations, the financiai estimates for the ensuing year and place the same before the General Council. The Executive Council may, in case where expenditure in excess of the amount provided in the budget is to be incurred or in case of urgency for reasons to be recorded in writing, incur expenditure, subject to such restrictions and conditions as may be specified in the Regulations. Where no provision has been rnade in the budget in respect of such excess expenditure, a report shall be made to the General t Council at its next meetins. (") ( vr) .L